We have to protect local market from sharp fluctuations of prices: Kazakhstan Oil and Gas Minister

04 october 2011, 17:37

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Kazakhstan Minister of Oil and Gas Sauat Mynbayev

Kazakhstan Minister of Oil and Gas Sauat Mynbayev explained the reason of fuel shortages in the country during his speech at the 6th Eurasian Forum KAZENERGY on October 4, Tengrinews.kz reports.

“Dependency on prices during the fuel crises, or rather not crisis, but prices volatility, sometimes causes failures in supplies to local market, which happened this summer. Yes, building an open economy, we cannot stay outside the global pricing trends, but we can and we should protect the local market from sharp fluctuations of prices,” Sauat Mynbayev said. He noted that oil refineries in Kazakhstan do not have enough capacities and part of high-octane petrol has to be imported.